February 22, 2020

World Agricultural Supply and Demand Estimates

Categories: Farm Bill

I. W.A.S.D.E.
II. Farm Bill Editorials

I. W.A.S.D.E.

Yesterday, the World Agricultural Outlook Board released their latest World Agricultural Supply and Demand Estimates (W.A.S.D.E.) report.

With respect to coarse grains, the report noted that, “U.S. supply, use, and stocks projections for 2006/07 corn, barley, and oats are unchanged this month. Corn exports are unchanged this month despite stronger competition from South America supplies as Mexico corn imports are increased,” and the report added that the corn season-average farm price is unchanged this month at $3.00 to $3.40 per bushel.

The W.A.S.D.E. report stated that, “Global 2006/07 coarse grain production is raised 4.8 million tons this month on improved prospects for corn crops in South America. Corn production for Argentina is raised 2 million tons to 21 million. Brazil corn production is raised 4 million tons to 46 million. Both increases are based on good growing season weather as reflected in recent area and yield indications. Supportive weather and higher prices also favor increased area for second-crop corn in Brazil.”